Cox and Kings nears two-year high of heavy volumes

Post Q3 results, the stock has rallied 27% as compared to 8% rise in benchmark S&P BSE Sensex since February 13, 2014.

Cox and Kings have rallied over 6% to Rs 168, its highest level since April 2012 on the BSE, on back of heavy volumes.

A combined 830,159 shares have already changed hands on the counter in first hour of trading against an average sub 700,000 shares that were traded daily in past two weeks on the BSE and NSE.

Meanwhile, the stock has outperformed the market by appreciating 27% post October-December (Q3FY14) results as compared to 8% rise in benchmark S&P BSE Sensex since February  13, 2014.

The company had reported a consolidated net profit at Rs 30.92 crore for Q3FY14 against Rs 3.3 crore in the corresponding quarter of previous fiscal.  Operating profit too, more than doubled to Rs 105 crore as compared to Rs 48 crore in Q3FY13.

The company anticipates a strong pickup in demand for travel sector in coming quarters from the international as well as domestic markets.

While announcing the results, Peter Kerkar, director of Cox and Kings said the GDP of UK and Ireland is expected to grow by over two per cent in the next one year and this will benefit all our international operations.